Mr Cooper Group Inc (COOP)

[user7770]

+1.

I once Googled the purpose of an LT in Ch. 11.

Bottom line--they exist to pay off creditors (NOT equity) to the best of their ability, then wind down. Nowhere, in any of the articles I read, was equity mentioned as a responsibility of an LT in ch 11.

Anyone can google it themselves if they question this.

Its as if people forget that this is/was a reorg, not a liquidation(ch. 7) BK. It wouldn't make sense for the co. to liquidate EVERYthing, even enough to pay equity, in a reorg, where the company is supposed to survive and do business when the reorg is complete. Sometimes, ppl just need to stop and think.

Of course we were never going to see anything of substance from the LT. They stated as much on more than a few occasions.